PANews February 5 News, U.S. Treasury Secretary Scott Bessent testified before Congress that the U.S. government will not “rescue” the asset by requiring private banks to buy more Bitcoin during market downturns. He emphasized that neither the Treasury Department nor the Financial Stability Oversight Council (FSOC) has such authority.
Bessent also revealed that the $500 million worth of Bitcoin seized through asset confiscation has appreciated to over $15 billion. According to an executive order signed by Trump in 2025, the U.S. can only increase its strategic reserves through asset confiscation or budget-neutral strategies (such as converting oil or precious metals into Bitcoin), rather than through open market purchases.
Although this move has been criticized by some in the Bitcoin community as insufficient, Bitcoin advocates believe that the U.S. government’s purchasing actions could encourage other countries to establish their own strategic reserves, thereby impacting Bitcoin prices and market demand.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Strive's SATA Stock Purchases 69 BTC After Hitting $100 Face Value
Gate News message, April 24 — According to ChainCatcher, Strive's SATA stock purchased approximately 69 BTC yesterday (April 23) after reaching a $100 face value.
Over the past two days, SATA has accumulated a total of 137 BTC.
GateNews1m ago
Bitcoin Technical Signals Show Multi-Dimensional Convergence, $73K Becomes Key Reversal Confirmation Level
Gate News message, April 24 — According to BIT on Target's weekly report, Bitcoin's bear market phase may be nearing its end as multiple technical signals across different timeframes are forming a convergence pattern. The weekly stochastic oscillator has retreated to levels not seen since
GateNews42m ago
Bitcoin ETF Inflows Turn Positive for the Year as All Flow Metrics Hit Green
Gate News message, April 24 — Bitcoin spot ETFs are gaining momentum as all flow metrics tracked by Bloomberg turned positive for the first time in months, according to Bloomberg Senior ETF Analyst Eric Balchunas. The cumulative one-day inflows for all 12 spot bitcoin funds reached over $335
GateNews2h ago
Bitcoin Short-Term Holders Discount Narrows to -5.7%, SOPR Signals Recovery
Gate News message, April 24 — Bitcoin short-term holders (STH) are showing signs of recovery as their discount narrowed from -21.6% to -5.7%, according to on-chain analyst Axel Adler Jr. The STH-SOPR (Spent Output Profit Ratio) 7-day moving average has climbed back above 1.0, indicating that short-t
GateNews2h ago
Bitcoin Mining Weekly Digest: TeraWulf Completes $1.035B Equity Offering
Gate News message, April 24 — During the week of April 11-17, 2026, Bitcoin's network-wide average hash rate stood at 935 EH/s, down 4.43% from the previous week's 978.9 EH/s, with peaks reaching 1,064 EH/s and lows of 815 EH/s. Bitcoin's average price was $76,048.3, up 3.9% from the prior week's $6
GateNews2h ago
ARK Invest's Bitcoin 'Conviction Buyers' Holdings Surge 69% in Q1, Hitting Highest Level Since 2020
Gate News message, April 24 — ARK Invest reported that its "Conviction Buyers" bitcoin holdings surged from 2.13 million BTC to 3.6 million BTC in the first quarter of 2026, an increase of 69% and the highest level since 2020. The growth occurred despite bitcoin's price declining 22% during the
GateNews3h ago
